Option A) MQL4/5 does everything
MQL can handle your requirements.
FundamentalTrad: I'm interested in having a program/robot:
Step 1) Scrape fundamental economic data like an interest rate from a website
Step 2) Compare these different fundamental data points in some type of formula. Right now I'm doing it in excel
Step 3) Buy or Sell Forex based on these decisions
Which of these do you think would be the best way to proceed?
Option A) MQL4/5 does everything
Option B) Outside program does everything
Option C) Outside program scrapes the data, passing it to an MQL4 program to actually execute the trade
Even though MQL4/5 is capable of doing all of the above, I would have to agree with @nicholishen and suggest that you do (Step 1) and maybe even some of (Step 2) outside of MetaTrader, in whatever language you prefer.
In fact, if you have the resources, I would even put that functionality on a different networked machine and store all the data in a SQL database for example, with the following advantages:
- Sharing the scraped and calculated data among various instances of the EA running on multiple charts or terminals, or even different EAs using the same data differently for different strategies.
- Reducing CPU and resource consumption on MetaTrader so that it can focus on the Strategy and the Trade processing and Management.
- Being able to stop the EA or close MetaTrader and still have the scraping unaffected.
- Using the data for Back-testing or for researching new ideas.
Thank-you so much to everyone that replied. I'm going to get my skills up and figure out how to proceed. I'm new to programming but experienced with the market.
If you are a "newbie", then plan for at least 9-12 months of serious, dedicated research and development (probably 2-3 times that long if you are not serious about it).
The described task is well beyond anything a "newbie" programmer should tackle especially if he/she has never coded before in any language.
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Hello,
I'm interested in having a program/robot:
Step 1) Scrape fundamental economic data like an interest rate from a website
Step 2) Compare these different fundamental data points in some type of formula. Right now I'm doing it in excel
Step 3) Buy or Sell Forex based on these decisions
Which of these do you think would be the best way to proceed?
Option A) MQL4/5 does everything
Option B) Outside program does everything
Option C) Outside program scrapes the data, passing it to an MQL4 program to actually execute the trade
Thanks so much for your time and help.